Harsco (NYSE:HSC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Monday.
A number of other analysts have also commented on HSC. TheStreet upgraded Harsco from a “c” rating to a “b-” rating in a report on Thursday, May 3rd. Zacks Investment Research upgraded Harsco from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a report on Saturday, May 5th. Finally, KeyCorp boosted their price target on Harsco from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Harsco has a consensus rating of “Buy” and an average target price of $25.20.
Harsco opened at $21.55 on Monday, Marketbeat reports. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.16 and a current ratio of 1.50. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 29.12 and a beta of 2.72. Harsco has a 1-year low of $15.05 and a 1-year high of $26.75.
Harsco (NYSE:HSC) last posted its earnings results on Wednesday, May 2nd. The industrial products company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The firm had revenue of $408.04 million for the quarter, compared to analyst estimates of $390.75 million. Harsco had a return on equity of 32.22% and a net margin of 1.02%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. analysts predict that Harsco will post 1.2 earnings per share for the current year.
Harsco announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 2nd that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP Scott H. Gerson sold 13,784 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $21.85, for a total value of $301,180.40. Following the sale, the senior vice president now directly owns 56,497 shares in the company, valued at $1,234,459.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Scott H. Gerson sold 7,519 shares of Harsco stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $24.23, for a total value of $182,185.37. Following the completion of the sale, the senior vice president now directly owns 22,713 shares in the company, valued at approximately $550,335.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,288 shares of company stock worth $681,755. Corporate insiders own 1.04% of the company’s stock.
Several large investors have recently added to or reduced their stakes in HSC. Teacher Retirement System of Texas acquired a new stake in shares of Harsco in the fourth quarter valued at about $512,000. Swiss National Bank increased its position in shares of Harsco by 3.5% in the fourth quarter. Swiss National Bank now owns 137,000 shares of the industrial products company’s stock valued at $2,555,000 after acquiring an additional 4,600 shares during the last quarter. First Trust Advisors LP increased its position in shares of Harsco by 3.8% in the fourth quarter. First Trust Advisors LP now owns 136,913 shares of the industrial products company’s stock valued at $2,553,000 after acquiring an additional 4,978 shares during the last quarter. Arizona State Retirement System increased its position in shares of Harsco by 223.7% in the fourth quarter. Arizona State Retirement System now owns 135,205 shares of the industrial products company’s stock valued at $2,522,000 after acquiring an additional 93,439 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Harsco by 15.3% in the fourth quarter. Rhumbline Advisers now owns 185,517 shares of the industrial products company’s stock valued at $3,460,000 after acquiring an additional 24,670 shares during the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.
Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.
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